Pros
Most of the people in middle management and below are quite effective and very dedicated. People care about what they do and how it affects others, both within the company and in the customer base. Team spirit is very much in evidence. The benefits are reasonably good (salary, vacation, 401K, insurance) -- especially compared to other companies during today's economic downturn. The fact that it is a multi-national company means that you are given the opportunity to work with people from very different cultures and backgrounds. Also, being a multi-national company means that you learn to interact with people remotely. Occassionally, you may even get to travel to other offices in other countries.
Cons
The upper management (CEO, CFO, ...) are not very supportive of their employees. While they have done a reasonably good job turning the company around financially, they are not very communicative with the employees and what communication we do get from them often has either a very harsh tone or a very "scolding" tone. Even information and news that SHOULD be encouraging as to the future of the company often comes across as negative due to the unpleasant way it is expressed. We have occassional "unannounced layoffs" (for lack of a better term). Groups of people are just let go (many of them have been long term employees considered by other employees to be extrememly valuable due to their expertise and institutional knowledge), with no announcement from management that it is going to happen. Therefore, almost everyone lives in fear that they could be next. No one feels that their job is secure, even if they do a stellar job and get great reviews.